Apple

Apple is also touting the capability to import iMovie ‘08 projects, which Final Cut Express accomplishes by being able to read Apple’s Final Cut XML format. (In iMovie, choose Share Final Cut XML.

When you import the text file that’s generated, Final Cut Express accesses the footage from the iMovie Events folder on disk.) However, importing is limited to edit points and transitions, and doesn’t include titles or video adjustments; Final Cut Express substitutes cross dissolve transitions for the ones used in the iMovie project. Audio levels are retained, however.

In projects where DV and HD footage is combined, Final Cut Express crops (or doesn’t) according to the iMovie project’s aspect ratio setting.